The NIFTY opened at 21812.75 with a gap up of 115 points. The index continued its early morning bullish momentum and saw a sharp rally but soon started a consolidation process. Prices eventually broke on the upside, and saw another upside surge but faced resistance in the afternoon session and started drifting downwards. The down move brought prices back to its opening tick. The index again started a consolidation that lasted till the end. The NIFTY recorded its intraday high at 22126.80, its intraday low at 21805.55, and finally closed at 21853.80 with a gain of 156.35 points or 0.72% up. OIL GAS outperformed, saw a sharp upside move, and closed with a gain of 3.58% followed by METAL and IT as they have closed with over 2% gains. BANK, FINANCIAL, and FMCG underperformed and ended lower. The long-term trend is down while the long-term momentum has turned up before reaching the weak zone. Both the momentums have aligned on the upside suggesting higher levels may be ahead.


The BANK NIFTY opened at 46568.20 with a big gap-up of 362 points. The index could not sustain at the higher levels and started drifting downwards. Prices found support soon and saw a sharp rally. The rally found resistance around 46900 and prices started a decline. The index kept on sliding lower for the whole day and gave up all the gains. The intraday high was recorded at 46892.35, the intraday low was recorded at 45901.25, and finally, the index closed at 45954.65 with a loss of 252 points. PSU BANKS have significantly outperformed, saw a sharp upside move, and finally ended with a gain of 2.22%, PVT BANKs have underperformed, saw a mild downside move, and ended with a loss of 0.72%. Within the index, in terms of points, PNB contributed the highest on the upside while HDFC BANK contributed the lowest. The short-term trend is sideways. We have been tracking support around 44500 while resistance around 46500. The index, crossed above 46500 but as the day progressed, prices eventually came back and closed within the 44500-46500 trading range for the twelfth consecutive trading day.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BPCL.24.02 Feb 560.4 9.55 8.4 39816000 CUB.24.02 Feb 138.15 -4.63 20.71 35415000
ABBOTINDIA.24.02 Feb 28252.6 8.44 4.84 182080 SHREECEM.24.02 Feb 28535.05 -4.06 2.06 203375
GMRINFRA.24.02 Feb 85.6 7.34 2.92 230265000 EICHERMOT.24.02 Feb 3837.6 -2.63 0.73 3729425
HINDPETRO.24.02 Feb 492.5 5.02 8.69 28892700 DABUR.24.02 Feb 546.85 -2.02 1.11 23547500
JINDALSTEL.24.02 Feb 779.8 4.59 4.22 26755000 TATACHEM.24.02 Feb 992.8 -1.99 9.34 12974500
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IOC.24.02 Feb 163.8 8.76 -3.12 110340750 ICICIPRULI.24.02 Feb 508 -1.86 -1.7 11439000
ABCAPITAL.24.02 Feb 181.7 8.25 -3.3 61468200 LALPATHLAB.24.02 Feb 2452.9 -1.76 -0.32 948600
SAIL.24.02 Feb 128.1 7.2 -13.68 147664000 MFSL.24.02 Feb 891.15 -1.72 -0.82 7491200
MCX.24.02 Feb 3666.4 5.31 -0.29 2235600 INDUSTOWER.24.02 Feb 217.15 -1.63 -4.49 142847600
PNB.24.02 Feb 125.4 4.85 -1.73 217960000 AXISBANK.24.02 Feb 1074.05 -1.35 -2.22 47330000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Asian Paints Limited 2936.3 0.24 1881911 2268394 75.45 Nifty50 21853.8 0.72 66251192
Srf Ltd. 2318.65 0.44 701436 1020644 74.28 Niftybank 45970.95 -0.47 31319587
Bosch Limited 23956.75 1.17 24154 12497 66.64 Nifty it 37323.25 2.16 1335547
Tata Consumer Products l 1162.75 2.93 1741322 3130816 66.21 India Vix 14.7 1.66 984484887
Piind 3376.25 -1.02 174194 189327 65.96 Nifty Fmcg 55118.4 -0.18 479087
Shriram Finance Limited 2405.5 0.35 881037 1373748 64.79 Nifty Pharma 17972.1 0.74 80745167
Larsen & Toubro Limited 3376.05 -0.65 7579802 3976225 64.66 Nifty Realty 856.2 0.95 1691074813
Havells India Limited 1341.3 2.03 1097984 488459 64.31 Nifty Auto 19380.5 0.27 74744161
Hdfc Bank Ltd. 1446.15 -1.38 22433877 10441607 63.88 Nifty Metal 8078.25 2.37 180193830
Ultratech Cement Limited 10098.55 1.78 334386 254297 63.34 Nifty Financial Services 20434.05 -0.4 6111870


   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (Jan) on 5th February, 2024

INR: Interest Rate Decision on 8th February, 2024

USD: ISM Non-Manufacturing PMI (Jan) on 5th February, 2024

USD: Services PMI (Jan) on 5th February, 2024


  • After a muted reaction to the Interim Budget in the previous session, the market posted solid gains on February 2, with Nifty hitting a new high of 22,126.80 and the Sensex rallying more than 1,400 points. The benchmarks gave up some of the gains to close off the day’s high. The Sensex ended 440.33 points, or 0.61 percent, at 72,085.63, and the Nifty 156.30 points, or 0.72 percent, at 21,853.80.

  • In a bid to de-emphasise disinvestment as a source of fiscal resources, the central government has deliberately avoided keeping a specific target in the interim Budget for 2024-25, Finance Secretary TV Somanathan told Moneycontrol in an interview on February 2.

  • Veteran investor Samir Arora of Helios Capital says Paytm may not have a corporate governance issue as opposed to an issue within the regulated bank and non-regulated fintech entities. Paytm became the focal point of analysts and investor alike since the Reserve Bank of India imposed restrictions on its lending business. This included restrictions against accepting new deposits and carrying out credit transactions after February 29.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
7TEC Quarterly Results;Interim Dividend 05-Feb-24 BFLAFL Quarterly Results 05-Feb-24
ADITYASP Quarterly Results 05-Feb-24 BHARTIARTL Quarterly Results 05-Feb-24
ADROITINFO Quarterly Results 05-Feb-24 BINNY General 05-Feb-24
AEL Quarterly Results 05-Feb-24 BJDUP Quarterly Results 05-Feb-24
ALBERTDAVD Quarterly Results;General 05-Feb-24 CANOPYFIN Quarterly Results 05-Feb-24
AMALGAM Quarterly Results 05-Feb-24 CCL Quarterly Results;Interim Dividend;General 05-Feb-24
AMFORG Quarterly Results 05-Feb-24 CELEBRITY Preferential Issue of shares 05-Feb-24
AMJLAND Quarterly Results 05-Feb-24 CHOLAHLDNG Quarterly Results 05-Feb-24
ANJANIFIN Quarterly Results 05-Feb-24 CHOWGULSTM Quarterly Results;General 05-Feb-24
APLLTD Quarterly Results;General 05-Feb-24 CREST Quarterly Results 05-Feb-24
ARTEMISMED Quarterly Results 05-Feb-24 DAMODARIND Quarterly Results 05-Feb-24
ASHOKLEY Quarterly Results 05-Feb-24 DHARMAJ Quarterly Results 05-Feb-24
ASKAUTOLTD Quarterly Results 05-Feb-24 DJSSS Quarterly Results 05-Feb-24
ATALREAL Quarterly Results 05-Feb-24 DYCL Quarterly Results 05-Feb-24
AURIONPRO Quarterly Results 05-Feb-24 EIHAHOTELS Quarterly Results 05-Feb-24
AVANTIFEED Quarterly Results 05-Feb-24 EMUDHRA Quarterly Results 05-Feb-24
AYMSYNTEX Quarterly Results 05-Feb-24 EVERFIN Quarterly Results;General 05-Feb-24
BAJAJCON Quarterly Results;Interim Dividend 05-Feb-24 FAIRCHEMOR Quarterly Results 05-Feb-24
BAJAJELEC Quarterly Results 05-Feb-24 FORTISMLR Quarterly Results 05-Feb-24
BANCOINDIA Quarterly Results;Interim Dividend 05-Feb-24 FUSION Quarterly Results 05-Feb-24
BARBEQUE Quarterly Results 05-Feb-24 GANHOLD Quarterly Results 05-Feb-24
BESTAGRO Quarterly Results 05-Feb-24 GARMNTMNTR Quarterly Results 05-Feb-24


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ADSDIAG 05-Feb-24 E.G.M. INTELLCAP 07-Feb-24 Bonus issue 2:1
APCOTEXIND 05-Feb-24 Interim Dividend – Rs. – 2.0000 SRF 07-Feb-24 Interim Dividend – Rs. – 3.6000
CGPOWER 05-Feb-24 Interim Dividend – Rs. – 1.3000 SYMPHONY 07-Feb-24 Interim Dividend – Rs. – 2.0000
COFORGE 05-Feb-24 Interim Dividend – Rs. – 19.0000 TIJARIA 07-Feb-24 E.G.M.
IRBINVIT 05-Feb-24 Income Distribution (InvIT) VIPIND 07-Feb-24 Interim Dividend – Rs. – 2.0000
MAAGHADV 05-Feb-24 Stock  Split From Rs.10/- to Rs.1/- VIRTUALS 07-Feb-24 E.G.M.
MAAGHADV 05-Feb-24 Bonus issue 1:4 AJANTPHARM 08-Feb-24 Interim Dividend – Rs. – 26.0000
MGL 05-Feb-24 Interim Dividend – Rs. – 12.0000 AKSHAR 08-Feb-24 Bonus issue 1:5
SONACOMS 05-Feb-24 Interim Dividend – Rs. – 1.5300 GILLETTE 08-Feb-24 Interim Dividend – Rs. – 45.0000
TANLA 05-Feb-24 Interim Dividend – Rs. – 6.0000 GILLETTE 08-Feb-24 Special Dividend – Rs. – 40.0000
AARTIDRUGS 06-Feb-24 Interim Dividend – Rs. – 1.0000 IRB 08-Feb-24 Interim Dividend – Rs. – 0.1000
CMSINFO 06-Feb-24 Interim Dividend – Rs. – 2.5000 ITC 08-Feb-24 Interim Dividend – Rs. – 6.2500
GAIL 06-Feb-24 Interim Dividend – Rs. – 5.5000 KAARYAFSL 08-Feb-24 E.G.M.
KIRLPNU 06-Feb-24 Interim Dividend – Rs. – 2.5000 MANCREDIT 08-Feb-24 E.G.M.
MOTILALOFS 06-Feb-24 Interim Dividend – Rs. – 14.0000 SHREECEM 08-Feb-24 Interim Dividend – Rs. – 50.0000
NTPC 06-Feb-24 Interim Dividend – Rs. – 2.2500 STL 08-Feb-24 Bonus issue 1:3
SHRIRAMFIN 06-Feb-24 Interim Dividend – Rs. – 10.0000 VAIBHAVGBL 08-Feb-24 Interim Dividend – Rs. – 1.5000
TATAMETALI 06-Feb-24 Amalgamation ADVANIHOTR 09-Feb-24 Interim Dividend – Rs. – 2.0000
BEPL 07-Feb-24 Interim Dividend – Rs. – 1.0000 APTUS 09-Feb-24 Interim Dividend – Rs. – 2.0000
CHOLAFIN 07-Feb-24 Interim Dividend – Rs. – 1.3000 BEL 09-Feb-24 Interim Dividend – Rs. – 0.7000
CONCOR 07-Feb-24 Interim Dividend – Rs. – 4.0000 DOLATALGO 09-Feb-24 Interim Dividend – Rs. – 0.1000
HINDPETRO 07-Feb-24 Interim Dividend – Rs. – 15.0000 GPTINFRA 09-Feb-24 Interim Dividend – Rs. – 1.0000

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